When a regional business buys another smaller business, there are many processes and accounting items that need to be streamlined. Our client recently had come out of bankruptcy and had completely different cost figures after the re-organization than their assessed values.
Consolidation of a National Business
There were two issues, a significantly higher assessment valuation on their assets than what was booked, and their regional based business was very segmented without a centralized reporting location.
By applying our expert knowledge in this field along with custom-tailored systems, we were able to effectively consolidate their property tax function and centralize its management. We saved them $585,000 in taxes using the rebooked costs of these assets.